[YTL CORP BHD，前景仍然具有挑战性]
本季度，杨忠礼除税前利润为3.781亿令吉，较上一年录得5.133亿令吉盈利减少1.352亿令吉或26.3％。
九个月，税前利润为12亿1,380万令吉，较去年录得的12亿6160万令吉盈利减少4780万令吉或3.8％。
施工：
除税前利润下降是由于建筑利润率下降和运营成本上升所致。
水泥制造与贸易：
除税前利润下降是由于生产成本增加，财务费用和充满竞争性的定价。
物业投资与开发：
收入下降是由于完成Midfields 2项目以及Fennel，Dahlia和U-Thant项目的进度结算量较低，因为这些项目已经完成。
管理服务及其他：
税前亏损是由于缺乏联营公司记录的贷款重组会计处理产生的一次性调整和较高的财务费用。
酒店：
除税前利润减少是由于公司间结余的未实现外汇损失以及开业前和培训费用增加所致。
前景：
对于水泥制造和贸易部门而言，该行业的前景仍然具有挑战性。
对于公用事业部门而言，新加坡电力市场将继续保持挑战性，受全球市场波动和电力批发市场供应过剩的影响。
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James Ng
For the current quarter, profit before tax was RM378.1m, a decrease of RM135.2m or 26.3% as compared to a profit of RM513.3m recorded in the preceding year.
For the nine months, profit before tax was RM1213.8m, a decrease of RM47.8m or 3.8% as compared to a profit of RM1261.6m recorded in the preceding year.
Construction:
The decrease in profit before tax was due to lower construction margin recorded and higher operating cost.
Cement Manufacturing & trading:
The decrease in profit before tax was due to increase in production cost, finance costs and competitive pricing.
Property investment & development:
The decrease in revenue was attributable to completion of Midfields 2 project and lower progress billings from The Fennel, Dahlia and U-Thant projects, as these projects are at its completion.
Management services & others:
Loss before tax was due to absence of the one-off adjustments arising from accounting treatment of loan restructuring recorded by an associated company and higher finance costs.
Hotels:
The decrease in profit before tax was due to the higher unrealised foreign exchange loss on inter-company balances and pre-opening and training expenses.
Prospects:
For the cement manufacturing & trading segment, the outlook for the industry remains competitive.
For the utilities segment, the electricity market in Singapore will remain competitive, driven by volatilities across global markets and generation capacity oversupply in the wholesale electricity market.
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James Ng
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